Has been accepted to a university 3 hours from home

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Presentation on theme: "Has been accepted to a university 3 hours from home"— Presentation transcript:

1 Has been accepted to a university 3 hours from homeMeet JosieSenior in high schoolHas been accepted to a university 3 hours from homeMaking important decisions about her future, especially regarding moneyLooking for a safe place to store her money and pay her bills while at college

2 Help Josie manage her money by choosing a depository institutionFound two depository institutions in her hometown that also have branches near her collegeShe has summarized their information on the “Josie’s Depository Institution Comparison Chart”Your mission:Learn more about Josie and depository institutions to help her make the best choice

3 Josie - What type of depository institutions has she chosen?Is Option 1 a bank or credit union?Why?Bank!Open to anyoneIs Option 2 a bank or credit union?Why?Credit Union!Membership requirements

4 JosieHow did location influence Josie’s selection of her top two depository institutions?She selected locations in her hometown and near her college

5 Are Josie’s choices insured?While watching the news today, Josie saw that a local depository institution is closing. Now that she understands the importance of depository institution insurance, she wants to ensure her choices are insured.Are Josie’s choices insured?Option 1Option 2Yes, by FDICYes, by NCUA

6 JosieJosie is looking for a checking account that is linked to a savings accountThis will allow her to transfer money from her checking account to her savings account when neededWhy would this feature be beneficial?Does option 1 have this ability?Does option 2 have this ability?Yes - linked savings accountYes – linked savings account

7 Which checking account should Josie choose?Learn more about Josie to help her choose depository institution 1 or 2

8 What did you learn about Josie?Will be traveling often to neighboring statesHas over drafted her account in the pastHas several bills to pay every monthOwns a smartphoneMake sure she can avoid all fees with proper account managementWould like a quick way to check her account balancesWould prefer no minimum balance requirementsWould like to earn interest on her depositsWhich checking account would you recommend Josie choose - option 1 or 2? Why?